Following the release of Tata Motors’ (TTM) fourth quarter financial results; the company’s stock observed a significant increase from 14.72 to $33.88 on heavy exchange volume late Tuesday afternoon and Wednesday Morning. The company reported fourth-quarter net profit that more than tripled year-over-year.

Tata Motors is an Indian multinational automotive manufacturing company. As a subsidiary of the Tata Group it specializes in passenger cars trucks, vans, coaches, buses, construction equipment and military vehicles. Tata Motors is the world’s 17th largest motor vehicle manufacturer, the fourth largest truck manufacturer by volume and the second bus maker, respectively, by volume.

Tata Motors’ principal subsidiaries purchased the British premium car maker Jaguar Land Rover (the maker of Jaguar, Land Rover, and Range Rover cars) and the South Korean commercial vehicle manufacturer Tata Daewoo.

Additionally the company has a bus-manufacturing joint venture with Marcopolo S.A. (Tata Marcopolo), a construction-equipment manufacturing joint venture with Hitachi (Tata Hitachi Construction Machinery), and a joint venture with FiatChrysler which manufactures automotive components and FiatChrysler and Tata branded vehicles.
The Indian automaker said that consolidated net profit increased to 51.7 billion rupees ($771 million), sharply higher than the 17.17 billion rupees reported a year ago. Analysts surveyed by analysts had expected net profit of 34.36 billion rupees.

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The India-based automaker’s profit benefited from a one-time gain of 5.55 billion rupees from an insurance payment.
Also, Experts attribute rise in profit to the Jaguar Land Rover sales gains in Europe and China. Chinese retail volumes in particular climbed 19% year-over-year during the most recent period, after falling 24% in 2015.The strong demand for the Jaguar XE compact saloon and the Discovery Sport SUV, boosted sales at the British luxury unit by 27% to 158,813 vehicles in the most recent period.

Unit profits at the China joint venture might not grow from the high levels Jaguar Land Rover reported in the most recent quarter, Sanford C. Bernstein’s Robin Zhu told analysts. But even if they remain steady, total profits should rise as long as sales rise. About 5.95 million shares of Tata Motors have been traded so far today, well above the company’s average trading volume of roughly 1.26 million shares per day.

Tata Motors has auto manufacturing, assembly and research facilities in several different Indian locations as well as in Argentina, South Africa, Thailand and the United Kingdom.
Founded in 1945 as a manufacturer of locomotives, the company manufactured its first commercial vehicle in 1954 eventually becoming the first Indian manufacturer to achieve the capability of developing a competitive indigenous automobile. Tata Motors entered the passenger vehicle market in 1991 with the launch of the Tata Sierra. In 1998, Tata launched the first fully indigenous Indian passenger car, the Indica, and in 2008 launched the Tata Nano, the world’s cheapest car.

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Tata Motors is listed on the (BSE) Bombay Stock Exchange, where it is a constituent of the BSE SENSEX index, the National Stock Exchange of India, and the New York Stock Exchange. Tata Motors is ranked 287th in the 2014 Fortune Global 500 ranking of the world’s biggest corporations.